THE WOLFE ALPHA LIST - JUNE 2026

研报英文原文证据摘录

THE WOLFE ALPHA LIST - JUNE 2026

NMWALPHA

THE WOLFE ALPHA LIST - JUNE 2026 June 2, 2026

Add JHX, LNG; Remove MTH, TRGP, SRT3-DE

Add JHX; Remove MTH: We are adding JHX to the WAL as we believe R&R market share

gains, synergy realization and a conservative outlook set up a beat and raise scenario as

we move through FY27 while we view the 20% sell-off since February despite EBITDA

estimates declining only 3% as overdone.

Add LNG; Remove TRGP: We see a very favorable risk-reward skew on LNG stock which

we see as approaching floor value tied to existing contracts. Eventual peace with Iran

should allow investors to re-focus on long-term value. We still like TRGP, but see a better

opportunity in LNG after recent performance.

For clients looking to trade the WAL,

Remove SRT3-DE: We are removing SRT3-DE due to a reallocation of analyst resources. the following 3 options are available via

our trading partners*

MTDWAL STOCKS PRICE1 PT RTG % UP RTN2 ANALYST 1. The Long Only Wolfe Alpha

RTN List (LOWAL) Investable Strategy

Amazon.com Inc. (AMZN) $261.26 $320 OP 22.5% (0.7)% 39.7% Shweta Khajuria (BBG Ticker: NMWALPHA Index): the

strategy invests in WAL with advanced

APA Corp. (APA) $37.75 $47 OP 24.5% (6.4)% 21.0% Doug Leggate portfolio construction accounting for

Autodesk, Inc. (ADSK) $248.16 $350 OP 41.0% 5.2% (18.2)% Joshua Tilton liquidity, tradability and risk.

BeOne Medicines Ltd. (ONC) $279.68 $340 OP 21.6% (3.8)% (5.8)% Kalpit Patel 2. The Market Neutral Wolfe Alpha

List (MNWAL) Investable Strategy BorgWarner (BWA) $71.06 $68 OP (4.3)% 31.1% 24.7% Emmanuel Rosner, CFA (BBG Ticker: NMWALPHP Index):

Brixmor Property Group (BRX) $30.07 $33 OP 9.7% 0.8% 0.0% Andrew Rosivach, CFA the MNWAL combines long positions